Utah § 67-19d-302 State treasurer to follow "prudent investor" rule -- Standard of care.

Utah Statutes

§ 67-19d-302 — State treasurer to follow "prudent investor" rule -- Standard of care.

Utah § 67-19d-302

Title 67State Officers and Employees

Ch. 67-19dState Post-Retirement Benefits Trust Fund Act

Part 67-19d-3Trust Fund Investments

This text of Utah § 67-19d-302 (State treasurer to follow "prudent investor" rule -- Standard of care.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 67-19d-302 (2026).

Text

(1)The state treasurer shall invest and manage the trust fund assets as a prudent investor would, by:

(1)(a) considering the purposes, terms, distribution requirements, and other circumstances of the trust fund; and

(1)(b) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor.

(2)In determining whether or not the state treasurer has met the standard of care of a prudent investor, the judge or finder of fact shall:

(2)(a) consider the state treasurer's actions in light of the facts and circumstances existing at the time of the investment decision or action, and not by hindsight; and

(2)(b) evaluate the state treasurer's investment and management decisions respecting individual assets:

(2)(b)(i) not in isolation, but in the context of

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(1) The state treasurer shall invest and manage the trust fund assets as a prudent investor would, by:

(1)(a) considering the purposes, terms, distribution requirements, and other circumstances of the trust fund; and
(1)(b) exercising reasonable care, skill, and caution in order to meet the standard of care of a prudent investor.
(2) In determining whether or not the state treasurer has met the standard of care of a prudent investor, the judge or finder of fact shall:

(2)(a) consider the state treasurer's actions in light of the facts and circumstances existing at the time of the investment decision or action, and not by hindsight; and
(2)(b) evaluate the state treasurer's investment and management decisions respecting individual assets:
(2)(b)(i) not in isolation, but in the context of a trust fund portfolio as a whole; and
(2)(b)(ii) as a part of an overall investment strategy that has risk and return objectives reasonably suited to the trust fund.